First of all, what gives you the right to speak for anyone else, besides yourself? Second of all, the problem is that the government will just mismanage the money. The reason is that the officials have no personal stake in the outcome. In fact, if they fail to deliver, their budget gets increased. The same goals can be achieved to a better extent and at a lower cost.
I think it will go the other way: Technological progress will soon follow our standard of living (that has reached a peak and is now in free fall). If you are right, then of course everyone's way of life will have to change, and what didn't make sense before, might start making sense. But we are decades away from that, so it is irrelevant.